Schmid Wants More Contraction of Fed's Balance SheetBy Michael S. Derby
作者：迈克尔·S·德比
New York, Jan 9 (Reuters) - Kansas City Federal Reserve President Jeff Schmid Signaled on Thursday a Reluctance to Cut Interest Rates Again as the U.S. Central Bank Comes Into the New Year Facing a Resilient Economy and Inflation That Remains Above Its 2% Target.
纽约，1月9日（路透社）- 堪萨斯城联邦储备银行行长杰夫·施密德周四表示，面对持续强劲的经济和通胀仍高于2%的目标，美国中央银行在新的一年里对再次降息表现出不情愿。
"We Are Currently Pretty Close to Meeting Our Dual Mandate of Price Stability and Full Employment" and, "With Inflation Close to Target and Growth Showing Continued Momentum, I Believe We Are Near the Point Where the Economy Needs Neither Restriction nor Support and That Policy Should Be Neutral," Schmid Said in the Text of a Speech to Be Delivered Before the Economic Club of Kansas City.
"我们目前距离实现价格稳定和充分就业的双重使命相当接近"，并且，"随着通胀接近目标，经济增长持续向好，我认为我们已接近经济既不需要限制也不需要压力位的点，因此政策应保持中立，"施密德在堪萨斯城经济俱乐部演讲的文本中说。
In the Current Environment, "Interest Rates Might Be Very Close to Their Longer-Run Level Now," Schmid Said. "I Am in Favor of Adjusting Policy Gradually Going Forward and Only in Response to a Sustained Change in the Tone of the Data," He Said, Adding That "the Strength of the Economy Allows US to Be Patient."
在当前环境下，"利率期货可能非常接近其长期水平，"施密德说。"我支持逐步调整政策，仅在数据趋势发生持续变化时采取行动，"他说，并补充道"经济的强劲使得我们能够保持耐心。"
The Fed Last Month Cut Its Benchmark Overnight Interest Rate by a Quarter of a Percentage Point to the 4.25%-4.50% Range and Signaled Expectations of Fewer Rate Cuts in 2025 Than Had Been Projected Three Months Earlier. Fed Officials Also Penciled in Expectations of Higher Inflation, and in Public Comments and the Release of Minutes From the Dec. 17-18 Meeting They Have Flagged Considerable Uncertainty Around the Outlook.
本 美联储上个月 将基准隔夜利率下调25个基点至4.25%-4.50%区间，并表示预计2025年的利率下调将少于三个月前的预测。美联储官员还预测了更高的通货膨胀，并在公开评论和发布的 会议记录 从12月17-18日的会议中，他们强调了对前景的重大不确定性。
Schmid on Thursday Was Upbeat on Where the Economy Now Stands.
施密德周四对当前经济形势持乐观态度。
"I Am Optimistic About Employment and the Strength of the Economy," He Said, Adding "Though the Job Market Has Loosened, It Remains Healthy." Schmid Also Said Growth Has Been "Solid" Around the 3% Level.
"我对就业和经济的强劲感到乐观，"他说，并补充道"尽管就业市场有所放松，但仍然保持健康。"施密德还表示，增长维持在"稳健"的3%水平。
The Kansas City Fed Chief Weighed in on the Central Bank Balance Sheet Drawdown Known as Quantitative Tightening, or Qt, Which Has Seen the Fed Reduce Its Holdings From a Peak of About $9 Trillion in 2022 to Just Under $7 Trillion. the Fed Expects to Reduce Its Holdings Further but Is Unsure How Far It Can Take the Process.
堪萨斯城联储主席就被称为量化紧缩的中央银行资产负债表缩减发表了看法，该过程使美联储的持有量从2022年的约9万亿降至不到7万亿。美联储预计将进一步减少其持有量，但不确定能走多远。
"I Would Like to See Even Further Declines This Year," Schmid Said of the Balance Sheet, Adding That He Would Also Like to See the Fed Move Toward an All-Treasuries Profile.
施密德表示："我希望今年能看到更大幅度的下降，"并补充说他还希望美联储能朝着只持有国债的策略迈进。
"We Should Minimize Our Impact on Relative Asset Prices," He Said, Noting "This Means Moving Out of Mortgage-Backed Securities."
"我们应该尽量减少对相对资产价格的影响，"他说，并指出："这意味着要减少抵押贷款支持证券的持有。"
(Reporting by Michael S. Derby; Editing by Paul Simao)
（报道：迈克尔·S·德比；编辑：保罗·西马奥）
((Michael.derby@Thomsonreuters.com;))
（（迈克尔.德比@汤姆森路透.com；））
